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Commerce · Q10

Auditing

Graduate and Post Graduate · Commerce · question 10

Q10

If the auditor believes that the financial statements are fairly stated or is unable to reach and conclusion because of insufficient evidence, the auditor

A.
Should withdraw from the engagement
B.
Should request an increase in audit fees so that more resources can be used to conduct the audit
C.
Has the responsibility of notifying financial statements, users through the auditor's report
Answer
D.
Should notify regulators of the circumstances

Answer: Option C

Solution

Answer: Option C
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